110 16Th St Costa Mesa, CA 92627

This exceptional Costa Mesa investment opportunity comprises three industrial buildings totaling 14,900 square feet on a 32,000 square foot lot. Located at 110-116-118 E 16th Street, 92627, this property boasts a coveted location near Newport Blvd, 17th Street, and the Pacific Coast Highway, offering easy freeway access. Currently 100% occupied with a mix of automotive-related tenants, including a high-end vintage car dealership and repair shops, the buildings feature 18-foot ceilings and a blend of functional office and warehouse space. Building 116 includes two professional-grade paint booths. The property is zoned for Light Industrial and Commercial Limited use, allowing for diverse applications. This is a rare opportunity within a designated Opportunity Zone, presenting potential tax advantages for investors. The existing buildings are suitable for owner-user occupancy, while the city's Specific Plan permits up to a four-story mixed-use development with a FAR of 1.0-1.25, potentially yielding 30,000-40,000 buildable square feet. Analysis suggests the potential for 18-36 residential units. The asking price is $9,999,000 ($671.07/SF, $3,333,000/unit), with a gross lease structure and a 1031 exchange option. This property is ideal for automotive uses, restaurants, redevelopment, investors, or owner-users seeking a prime location in a thriving area of Orange County. Built in 1949, the property offers significant upside potential in a rapidly developing neighborhood.